MIRA INFORM REPORT

 

 

Report No. :

496734

Report Date :

10.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

EMPAC GMBH

 

 

Registered Office :

Hollefeldstr. 22, D 48282 Emsdetten

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

27.01.2012

 

 

Com. Reg. No.:

HRB 9527

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Manufacture of plastic packing goods

·         Other manufacturing n.e.c.

·         Wholesale of other equipment and accessories for machinery and technical supplies

 

 

No. of Employees :

57

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

 

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Germany

A1

A1

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

GERMANY - ECONOMIC OVERVIEW

 

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and a large increase in net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms.

Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong economic growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.

Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2017 Germany reached a budget surplus of 0.7%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016, though the target was already reached in 2012.

The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros during 2016-18, largely in infrastructure, is intended to spur needed private investment. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany plans to replace nuclear power largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, up from 9% in 2000. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production. Domestic consumption, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.

 

Source : CIA

 

 

COMPANY NAME AND ADDRESS

 

EMPAC GMBH

 

 Company Status:      Active

                      Hollefeldstr. 22

                      D 48282 Emsdetten

                      Telephone:02572/9364200

                      Telefax:  02572/9364222

                      Homepage: www.empac.de

                      E-mail:   richard.sievers@empac.de

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company Summary

 

 LEGAL FORM              Private Limited Company

 Date of foundation:      27.01.2012

 Shareholders'

 agreement:                   27.01.2012

 Registered on:             01.02.2012

 Commercial Register:   Local court 48565 Steinfurt

 under:                          HRB 9527

 

 

Share capital                         

 

EUR             25,000.00

 

 Shareholder:

                      Richard Sievers

                      D 48429 Rheine

                      born: 22.12.1957

                      Share:             EUR             12,500.00

 Shareholder:

                      Michael Hans

                      Ahlintel 52

                      D 48282 Emsdetten

                      born: 04.11.1959

                      Share:             EUR             12,500.00

 Manager:

                      Richard Sievers

                      D 48429 Rheine

                      having sole power of representation

                      born: 22.12.1957

 Manager:

                      Michael Hans

                      Ahlintel 52

                      D 48282 Emsdetten

                      having sole power of representation

                      born: 04.11.1959

 Proxy:

                      Norbert Kloppenborg

                      Rotdornweg 11

                      D 48282 Emsdetten

                      having sole power of representation

                      born: 10.06.1961

 

 Further functions/participations of Michael Hans (Manager)

 Limited partner:

                      Hans Immobilien GmbH & Co. KG

                      Hollefeldstr. 22

                      D 48282 Emsdetten

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR             10,000.00

                      contribution:

                      Share:             EUR             10,000.00

                      Registered

                      on:         13.11.2012

                      Reg. data:  48565 Steinfurt, HRA 6409

 Shareholder:

                      Hans Geschäftsführungs GmbH

                      Hollefeldstr. 22

                      D 48282 Emsdetten

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         09.11.2012

                      Reg. data:  48565 Steinfurt, HRB 9787

 Manager:

                      Hans Geschäftsführungs GmbH

                      Hollefeldstr. 22

                      D 48282 Emsdetten

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         09.11.2012

                      Reg. data:  48565 Steinfurt, HRB 9787

 

 

COMPANY HISTORY

 

 Company name and legal form

 01.02.2012 - 21.01.2015  EMPAC GmbH

                          Hollefeldstr. 34

                          D 48282 Emsdetten

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

22220   Manufacture of plastic packing goods

32990   Other manufacturing n.e.c.

46693   Wholesale of other equipment and accessories for machinery and technical supplies

 

 

 FINANCIAL INFORMATION

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 Balance sheet year:  2015

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Hollefeldstr. 22

                      D 48282 Emsdetten

 

 Land register documents were not available.

 

 

 BANKERS

 

 A bank connection is unknown.

 

 

 FINANCIAL FIGURES

 

 Equipment:                              EUR            310,167.00

 Ac/ts receivable:                       EUR          3,233,309.00

 Liabilities:                            EUR          4,722,292.00

 Employees:                                                     57

 - thereof permanent staff:                                     57

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2015 - 31.12.2015

 Equity ratio [%]:                 30.76

 Liquidity ratio:                   0.72

 Return on total capital [%]:       6.40

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 25.61

 Liquidity ratio:                   0.69

 Return on total capital [%]:       6.09

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 24.18

 Liquidity ratio:                   0.54

 Return on total capital [%]:       2.83

 

 Balance sheet ratios 01.04.2012 - 31.12.2012

 Equity ratio [%]:                 24.43

 Liquidity ratio:                   0.49

 Return on total capital [%]:       1.70

 

Equity ratio

The equity ratio indicates the portion of the equity as compared  to the total capital. The higher the equity ratio, the better the  economic stability (solvency) and thus the financial autonomy of  a company.

 

Liquidity ratio

The liquidity ratio shows the proportion between adjusted  receivables and net liabilities. The higher the ratio, the lower  the company's financial dependancy from external creditors.

 

Return on total capital

The return on total capital shows the efficiency and return on the total capital employed in the company. The higher the return  on total capital, the more economically does the company work  with the invested capital.

 

 

 Type of balance  sheet:               Company balance sheet

 Origin of the present

 balance sheet:                     electronic German Federal Gazette

 

 Financial year:                    01.01.2015 - 31.12.2015

 

 ASSETS                                  EUR          8,021,515.40

  Fixed assets                           EUR          2,039,591.93

   Intangible assets                     EUR             94,858.00

    Other / unspecified intangible assetsEUR             94,858.00

   Tangible assets                       EUR          1,122,195.00

    Plant / machinery                    EUR            812,028.00

    Other tangible assets / fixtures and

    fittings                             EUR            310,167.00

   Financial assets                      EUR            822,538.93

    Shares in participations /

    subsidiaries and the like            EUR            148,570.70

     Shares in related companies         EUR            148,270.70

     Shares in investee companies        EUR                300.00

    Loans to participations /

    subsidiaries and the like            EUR            673,968.23

     Loans to related companies          EUR            433,968.23

     Loans to investee companies         EUR            240,000.00

  Current assets                         EUR          5,935,441.56

   Stocks                                EUR          2,497,917.00

   Accounts receivable                   EUR          3,233,309.15

    Amounts due from related companies   EUR            369,306.46

    Other debtors and assets             EUR          2,864,002.69

   Liquid means                          EUR            204,215.41

  Remaining other assets                 EUR             46,481.91

   Accruals (assets)                     EUR             46,481.91

 

 LIABILITIES                             EUR          8,021,515.40

  Shareholders' equity                   EUR          2,500,010.86

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR          2,470,000.00

    Capital reserves                     EUR          1,400,000.00

    Retained earnings / revenue reserves EUR          1,070,000.00

   Balance sheet profit/loss (+/-)       EUR              5,010.86

    Profit / loss brought forward        EUR              5,010.86

  Provisions                             EUR            799,212.36

  Liabilities                            EUR          4,722,292.18

   Financial debts                       EUR          3,311,114.46

    Liabilities due to banks             EUR          3,311,114.46

   Other liabilities                     EUR          1,411,177.72

    Liabililties due to related companiesEUR            152,342.50

    Unspecified other liabilities        EUR          1,258,835.22

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          6,388,413.27

  Staff expenses                         EUR          3,037,272.94

   Wages and salaries                    EUR          2,554,369.65

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            482,903.29

  Total depreciation                     EUR            306,750.40

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            306,750.40

  Other operating expenses               EUR          2,215,049.62

  Operating result from continuing

  operations                             EUR            829,340.31

  Interest result (+/-)                  EUR            -87,064.19

   Interest and similar income           EUR             53,080.55

    thereof from related companies       EUR             51,330.93

   Interest and similar expenses         EUR            140,144.74

  Financial result (+/-)                 EUR            -87,064.19

  Result from ordinary operations (+/-)  EUR            742,276.12

  Income tax / refund of income tax (+/-)EUR           -228,789.41

  Other taxes / refund of taxes          EUR             -2,952.00

  Tax (+/-)                              EUR           -231,741.41

  Annual surplus / annual deficit        EUR            510,534.71

 

 Type of balancesheet:               Company balance sheet

 Origin of the present

 balance sheet:                     electronic German Federal Gazette

 

 Financial year:                    01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR          7,885,334.68

  Fixed assets                           EUR          1,849,636.18

   Intangible assets                     EUR            134,967.00

   Tangible assets                       EUR          1,035,628.00

    Land / similar rights                EUR             25,601.00

    Plant / machinery                    EUR            762,922.00

    Other tangible assets / fixtures and

    fittings                             EUR            247,105.00

   Financial assets                      EUR            679,041.18

    Shares in participations /

    subsidiaries and the like            EUR            148,570.70

     Shares in related companies         EUR            148,270.70

     Shares in investee companies        EUR                300.00

    Loans to participations /

    subsidiaries and the like            EUR            530,470.48

     Loans to related companies          EUR            530,470.48

  Current assets                         EUR          5,995,133.07

   Stocks                                EUR          2,567,827.00

   Accounts receivable                   EUR          3,425,950.01

    Amounts due from related companies   EUR            215,857.95

    Other debtors and assets             EUR          3,210,092.06

   Liquid means                          EUR              1,356.06

  Remaining other assets                 EUR             40,565.43

   Accruals (assets)                     EUR             33,443.21

   Active difference from asset

   offsetting                            EUR              7,122.22

 

 LIABILITIES                             EUR          7,885,334.68

  Shareholders' equity                   EUR          2,069,476.15

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR          1,400,000.00

    Capital reserves                     EUR          1,400,000.00

   Balance sheet profit/loss (+/-)       EUR            644,476.15

    Profit / loss brought forward        EUR            168,564.37

    Annual surplus / annual deficit      EUR            475,911.78

  Provisions                             EUR            883,650.23

  Liabilities                            EUR          4,932,208.30

   Financial debts                       EUR          3,609,253.81

    Liabilities due to banks             EUR          3,609,253.81

   Other liabilities                     EUR          1,322,954.49

    Liabililties due to related companiesEUR            195,289.09

    Unspecified other liabilities        EUR          1,127,665.40

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          6,139,910.45

  Staff expenses                         EUR          2,728,322.75

   Wages and salaries                    EUR          2,325,471.66

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            402,851.09

  Total depreciation                     EUR            286,279.97

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            286,279.97

  Other operating expenses               EUR          2,342,339.34

  Operating result from continuing

  operations                             EUR            782,968.39

  Interest result (+/-)                  EUR           -135,550.78

   Interest and similar income           EUR              5,598.80

   Interest and similar expenses         EUR            141,149.58

  Other financial result                 EUR             41,637.28

   Income from securities and loans from

   financial assets                      EUR             57,593.20

    thereof related companies            EUR             57,593.20

   Depreciation on financial assets and

   marketable securities                 EUR             15,955.92

  Financial result (+/-)                 EUR            -93,913.50

  Result from ordinary operations (+/-)  EUR            689,054.89

  Income tax / refund of income tax (+/-)EUR           -210,565.41

  Other taxes / refund of taxes          EUR             -2,577.69

  Tax (+/-)                              EUR           -213,143.10

  Annual surplus / annual deficit        EUR            475,911.79

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.08

UK Pound

1

INR 89.85

Euro

1

INR 80.16

EUR

1

INR 80.00

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

NIT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.